Colombia: Additional tax deadline extensions due to COVID-19 pandemic
On 6 April 2020, Colombia has published Decree 520 regarding the dates for the presentation and payment of the income tax declaration and complementary tax year 2019, of large taxpayers and legal entities, as well as the dates for the
See MoreColombia extends further tax filing deadlines due to COVID-19 outbreak
On 19 March 2020, the Colombian Ministry of Finance and Public Credit has published Decree 435 regarding new deadlines for the presentation of tax obligations for other taxpayers not contained in Decree 401 of 13 March 2020. Among the main
See MoreColombia: DIAN updates transfer pricing return and other forms
On 10 March 2020, Directorate of Taxes and National Customs (DIAN) of Colombia published Resolution No. 000019 updating the following form for filing a tax return: Informative transfer pricing return (Form No. 120);Income and withholding
See MoreColombia extends tax filing deadlines due to COVID-19 outbreak
On 13 March 2020, the Colombian Ministry of Finance and Public Credit has published Decree 401 by extending a number of tax filing and payment deadlines due to COVID-19 outbreak. Among the main provisions of the Decree are: The deadlines for the
See MoreColombia publishes decree amending the taxation of dividend income
On 31 December 2019, the Colombian Ministry of Finance and Public Credit (MinHacienda) has published Decree 2371 of 27 December 2019 on its website which amends the dividend income tax. The Decree regulates the tax and withholding tax on dividends
See MoreColombia: DIAN issues new guidelines for GAAR
On 15 January 2020, Colombian tax authority (DIAN) has published Executive Order No. 4 of 7 January 2020 in the official gazette where DIAN clarifies the application of General Anti-Avoidance Rule (GAAR). The GAAR provisions are contained in
See MoreColombia publishes a decree on tax return and TP documentation deadline
On 23 December 2019, Colombian tax authority (DIAN) has published Decree No. 2345 specifying the deadlines for filing and payment of the tax return (declaration) for 2020 and the deadline for transfer pricing (TP) documentation, including
See MoreColombia enacts amended tax reform law
On 27 December 2019, Colombia has enacted tax reform law (Law 2010), which replaces the previous tax reform (Law 1943). The previous Law was held to be unconstitutional by the Constitutional Court on 16 October 2019 but was allowed to be in force
See MoreTax treaty between Colombia and the UK enters into force
On 16th December 2019, the Double Taxation Agreement (DTA) between Colombia and the United Kingdom (UK) was entered into force and applies from 1 January 2020. The DTA contains Dividends rate 0% if the beneficial owners is a pension fund or scheme,
See MoreColombia: Congress approves new tax reform bill in first debate
On 3 December 2019, the Colombia Congress has approved new tax reform bill 2019 (Law No. 1943 of 2018) in first debate. The Colombian Government submitted the new tax reform bill to Congress on 22 October 2019 due to procedural flaws as stated
See MoreColombia introduces new tax incentives for special economic zones (SEZs)
On November 24, the Colombian Ministry of Finance and Public Credit (MinHacienda) issued Decree No. 2112 of 2019, by which Colombia introduces new tax incentives for commercial companies established in special economic zones (SEZs). The Decree
See MoreColombia: MinHacienda issues decree on taxation of investment funds and PEs
On October 29, the Colombian Ministry of Finance and Public Credit (MinHacienda) has issued Decree 1973, which clarified measures regarding the taxation of private equity funds and collective investment funds and rules on the attribution of income
See MoreColombia: Government submits tax reform bill to Congress after court ruling
On 22 October 2019, the Colombian Government submitted a new tax reform bill to Congress that will replace tax reform bill 2019 (Law No. 1943 of 2018). The tax reform bill 2019, which came into force on 1 January 2019, is invalid due to procedural
See MoreColombia: Constitutional Court rules ‘Tax Reform Law 2019’ as unconstitutional
On 16 October 2019, the Colombian Constitutional Court ruled that the tax reform law 2019 was unconstitutional. The tax reform law 2019 (law No. 1943), which came into force on 1 January 2019, is invalid due to procedural flaws in the approval
See MoreColombia: Reminder on tax amnesty deadline
It’s a reminder for the Colombian taxpayers wishing to take part in ongoing tax amnesties. The Colombian 2019 tax reform establishes a tax amnesty to “normalize” (i) unreported assets; or (ii) nonexistent liabilities that were included on a
See MoreColombia: DIAN issues resolution on MAP
On 13 August 2019, the Colombian National Tax Authority (Dirección de Impuestos y Aduanas Nacionales, DIAN) has published Resolution No. 000053 in the official gazette which establishes Mutual Agreement Procedure (MAP) to avoid double taxation and
See MoreColombia: DIAN issues ruling on tax treatment of stock dividends
Recently, the Colombian National Tax Authority (DIAN) published Ruling 014495 of 6 June 2019, which sets out tax of profits in shares or stock dividend. The ruling includes the following points: Article 30 of the Tax Code (TC) provide the
See MoreColombia publishes new thin capitalization rule
On 26 June 2019, the Government of Colombia published a Decree 1146 of 2019, concerning the new thin capitalization rules which amended the previous law 1943 of 2018. The new Decree 1146 of 2019 includes the following measures: The thin
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